KSE IRL Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

KSE IRL Ltd

Company Information

Director

Miss Gemma McGale

Company secretary

Miss Gemma McGale

Registered office

29 Glen Road Drumquin Omagh Tyrone BT78 4RW

Accountants

M P Kearney & Co Chartered Certified Accountants 1 Tamlaght Road Omagh Tyrone BT78 5AW

KSE IRL Ltd

(Registration number: NI670423)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	172,903	82,665
Current assets
Debtors	5	40,000	44,550
Cash at bank and in hand		13,409	10,808
		53,409	55,358
Creditors: Amounts falling due within one year	6	(62,348)	(37,127)
Net current (liabilities)/assets		(8,939)	18,231
Total assets less current liabilities		163,964	100,896
Creditors: Amounts falling due after more than one year	6	(94,642)	(59,783)
Net assets		69,322	41,113
Capital and reserves
Called up share capital	7	1	1
Retained earnings		69,321	41,112
Shareholders' funds		69,322	41,113

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 March 2025
 

......................................... Miss Gemma McGale Company secretary and director

KSE IRL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in North of Ireland.

The address of its registered office is:
29 Glen Road
Drumquin
Omagh
Tyrone
BT78 4RW
Northern Ireland

These financial statements were authorised for issue by the director on 3 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

KSE IRL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	20% Reducing Balance Method
Motor Vehicles	20% Reducing Balance Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

KSE IRL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

KSE IRL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2023	9,265	97,308	106,573
Additions	131,212	-	131,212
Disposals	-	(9,000)	(9,000)
At 30 September 2024	140,477	88,308	228,785
Depreciation
At 1 October 2023	3,005	20,902	23,907
Charge for the year	27,494	13,481	40,975
Eliminated on disposal	-	(9,000)	(9,000)
At 30 September 2024	30,499	25,383	55,882
Carrying amount
At 30 September 2024	109,978	62,925	172,903
At 30 September 2023	6,260	76,405	82,665

5

Debtors

Current	2024 £	2023 £
Trade debtors	40,000	40,165
Other debtors	-	4,385
	40,000	44,550

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		42,698	11,948
Accruals and deferred income		9,893	25,103
Other creditors		9,757	76
		62,348	37,127

Creditors: amounts falling due after more than one year

KSE IRL Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		94,507	33,983
Other non-current financial liabilities		135	25,800
		94,642	59,783

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1